Financial planners try to determine how their clients can meet financial goals through management of resources. They examine the financial history of their client's assets and develop a financial plan the client should take to meet their goals. The financial plan is based on a client's financial situation at one point in time. However, financial planning is data-heavy that constantly changes. Financial planners are not able to continuously monitor a client's financial situation and revise the financial plan accordingly. Delays in receiving updated client data lead to delays in revising financial plans.
Additionally, a financial plan is often generated and provided using a limited set of data that is often not up-to-date. Such limited data leads to inaccurate or inappropriate financial plans.